67978 (2024). Chlöe Swarbrick to the Minister of Finance

67978 (2024). Chlöe Swarbrick to the Minister of Finance: Do Emissions Trading Scheme auctions that fail have a negative impact on net core Crown debt?

Hon Nicola Willis: ETS auctions that fully clear have a positive cash impact. Therefore, they cause net core Crown debt to decrease by the amount of the cash inflow. If ETS auctions are declined, this positive net core Crown debt impact does not take place. ETS auctions that fully clear do not necessarily have a positive impact on net core Crown debt relative to forecasts, if those forecasts were already anticipating the auction to fully clear.